Tokenized T-Bills issuer OpenEden surpasses $100m in TVL
The march to $100 million in TVL also comes just a month after the platform hit the $75 million total value locked mark
Tokenization platform OpenEden has surpassed $100 million in total value locked for its tokenized U.S. Treasury Bills.
OpenEden’s announcement on Aug. 26, comes a few weeks after it revealed plans to launch the first T-Bills on the XRP (XRP) network.
Earlier this month, Ripple announced it would allocate $10 million to OpenEden’s tokenized short-term U.S. government securities, with the T-BILL set to launch on the XRP Ledger. OpenEden also secured a key allocation from Arbitrum’s (ARB) decentralized autonomous organization treasury.
OpenEden hits $100m TVL
The march to $100 million in TVL also comes just a month after the platform hit the $75 million total value locked mark. According to data from DeFiLlama, the platform’s TVL stood at just over $33 million at the start of June 2024.
In a blog post, OpenEden attributed its growth to a deep understanding of the market and active engagement with DAO treasury managers, web3 financial advisors, and crypto funds. These strategies have helped the firm become the largest issuer of tokenized U.S. T-bills in Europe and Asia.
